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Orion Series 65 Section Quick Quiz 2
Questions and Correct Answers/ Latest
Update / Already Graded
Civil liability may arise under the Uniform Securities Act if an agent:
Ans: Uses an artifice or scheme that could reasonably be
considered misleading in connection with a securities offering.
Effects a sale of a nonexempt new issue of securities before
filing a registration statement in that state.
While a student at college 9 years ago, Joe was convicted of possession
of marijuana (a misdemeanor in that state) and received a suspended
sentence. Joe now resides in a different state where the same offense
is a felony. If Joe disclosed the matter on his application to ABC
Securities, Joe's registration may:
A) be denied based on this conviction because the crime is a felony in
the state where he seeks registration.
B) be denied based on this conviction because it was less than 10 years
ago.
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C) not be denied based on this conviction because it was a
misdemeanor in the state where he went to college.
D) not be denied based on this conviction because it was 9 years ago.
Ans: Not be denied based on this conviction because it was a
misdemeanor in the state where he went to college.
If an investor bought stock on one exchange and sold it at a higher
price on another exchange, this practice constitutes a(n):
A) offense punishable by three years in the county jail.
B) violation under both the Uniform Securities Act and federal law.
C) violation of the Uniform Securities Act.
D) perfectly acceptable market arbitrage.
Ans: D) perfectly acceptable market arbitrage.
Which of the following statements regarding civil liabilities under the
Uniform Securities Act are TRUE?
All rights reserved © 2025/ 2026 |
Orion Series 65 Section Quick Quiz 2
Questions and Correct Answers/ Latest
Update / Already Graded
Civil liability may arise under the Uniform Securities Act if an agent:
Ans: Uses an artifice or scheme that could reasonably be
considered misleading in connection with a securities offering.
Effects a sale of a nonexempt new issue of securities before
filing a registration statement in that state.
While a student at college 9 years ago, Joe was convicted of possession
of marijuana (a misdemeanor in that state) and received a suspended
sentence. Joe now resides in a different state where the same offense
is a felony. If Joe disclosed the matter on his application to ABC
Securities, Joe's registration may:
A) be denied based on this conviction because the crime is a felony in
the state where he seeks registration.
B) be denied based on this conviction because it was less than 10 years
ago.
All rights reserved © 2025/ 2026 |
, Page |2
C) not be denied based on this conviction because it was a
misdemeanor in the state where he went to college.
D) not be denied based on this conviction because it was 9 years ago.
Ans: Not be denied based on this conviction because it was a
misdemeanor in the state where he went to college.
If an investor bought stock on one exchange and sold it at a higher
price on another exchange, this practice constitutes a(n):
A) offense punishable by three years in the county jail.
B) violation under both the Uniform Securities Act and federal law.
C) violation of the Uniform Securities Act.
D) perfectly acceptable market arbitrage.
Ans: D) perfectly acceptable market arbitrage.
Which of the following statements regarding civil liabilities under the
Uniform Securities Act are TRUE?
All rights reserved © 2025/ 2026 |
